18,218 Shares in Cirrus Logic, Inc. $CRUS Acquired by Caprock Group LLC

Caprock Group LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,218 shares of the semiconductor company’s stock, valued at approximately $2,080,000.

A number of other large investors also recently bought and sold shares of CRUS. Royal Bank of Canada grew its stake in shares of Cirrus Logic by 92.3% during the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after buying an additional 34,629 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cirrus Logic by 24.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cirrus Logic by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock valued at $21,372,000 after acquiring an additional 9,658 shares during the period. Focus Partners Wealth acquired a new stake in Cirrus Logic during the first quarter worth about $361,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 232 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Transactions at Cirrus Logic

In related news, EVP Scott Thomas sold 3,239 shares of Cirrus Logic stock in a transaction on Friday, February 13th. The shares were sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the sale, the executive vice president owned 30,393 shares in the company, valued at approximately $4,304,560.59. The trade was a 9.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Justin E. Dougherty sold 3,000 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total transaction of $429,480.00. Following the transaction, the executive vice president owned 5,876 shares in the company, valued at $841,208.16. This trade represents a 33.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 28,045 shares of company stock valued at $3,835,300. 1.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of research reports. Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a report on Monday, February 2nd. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Benchmark increased their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Finally, Stifel Nicolaus upped their price target on shares of Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and an average price target of $145.43.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $144.63 on Friday. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $146.88. The company has a market capitalization of $7.38 billion, a PE ratio of 19.06 and a beta of 1.12. The business has a 50-day moving average of $126.42 and a 200-day moving average of $121.52.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm had revenue of $580.62 million during the quarter, compared to the consensus estimate of $531.43 million. During the same quarter in the prior year, the business posted $2.51 earnings per share. Cirrus Logic’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.